Waves of change are crashing on the shores of the library profession. New media, new tools, new techniques, and new expectations collide to cause excitement, anxiety, confusion, and concern. It may be difficult to determine where we are and where we are going. At our present crossroads, it is useful to view the pressures and effects of change on our services as a matrix of commercial versus local on one axis and physical versus digital on the other. Interesting observations about the nature of content and our reaction to it can be made at the intersections of commercial and local with physical and digital. This essay uses these intersections to examine the waves of content coming to the library and our ways of managing it.